Regulated Brokers Can Also Be Dishonest, Ava Trade as a Test Case

Binary Scam Alerts » Broker Reviews » Regulated Brokers Can Also Be Dishonest, Ava Trade as a Test Case

Regulated Brokers Can Also Be Dishonest, Ava Trade as a Test Case

Posted on by Patrick Jones

Regulated brokers can also be dishonest! We are constantly getting complaints about various brokers which are TOTALLY regulated, but are not acting in good faith and will do anything in their power to slow down, delay, and get you to cancel your withdrawal requests. We have decided to review Ava Trade in this context, as it is regulated by ASIC, BVI Financial Services Committee, the Central Bank of Ireland, the South African Financial Services Board, and even in Japan. So, in reality Ava Trade is one of the most regulated brokers around (if not the most), but does that mean they operate in a fully transparent and honest way? At face value the answer is a resounding NO, and our staff of researchers have been able to produce initial proof of lies and deception. Now, does that mean Ava Trade is a SCAM broker? The short answer is also no, we are not going to pretend and say that if you have money coming your way it will not eventually be paid if you produce all the required documentation. However, we are saying that Ava Trade has been less than honest about producing testimonials about what people think or how much they have profited using their Brokerage services. It’s also worth pointing out that we are not acting as affiliates in this Ava Trade review and test case, hence there is no conflict of interest just clear and simple facts.

Update: Ava Trade has reached out and told us that they are using image bank photos due to client privacy issues. We are willing to accept that to a certain degree and due to their regulation and solid reputation we are willing to concede and agree that it is a mitigating factor.

The Official Ava Trade Website: http://www.avatrade.com/

But first, a bit of background. Ava Trade is a Forex and CFD broker. They also offer bonds, ETFs, and other financial products, but they are most known as a regulated Forex broker. We started digging in and seeing what Ava Trade was about because our members have asked us about regulated brokers and which one we recommend. The conclusions are not as you may think or wish to believe. In reality, even regulated brokers bend the rules in their favor and that is why we don’t necessarily recommend regulated brokers. We work differently as we will explain in a minute.

The point is, not every broker which is regulated is legit, and not every unregulated broker is a scam. As in most cases in life, the truth is always somewhere in the middle and that is why we ALWAYS choose the best systems with brokers we have a relationship with, but more importantly we have leverage in the form of a withdraw-able balance (significant amounts) which we can always use as a pressure tactic if one of our members is not paid promptly. So, in this context our motto is trust no broker (regardless of their legal status), and always have a good relationship with the decision makers as well as financial leverage.

Ava Trade – This is Not an Ava Trade Review!
Below you will find a screenshot of the Ava Trade home page and main sales area. It’s worth pointing out that Ava Trade  executes more than 2 million transactions per month which often surpasses $60 billion in volume. This makes it a monster, and it is also owned by Tedi Sagi who is the owner of Playtech (a gambling giant) and valued at over $2.8 Billion. Yes, he has made it to the Forbes list of richest men in the world.

Moving forward, our little team of researchers has manage to spot an interesting piece of information (which is also proof of possible scam). Ava Trade is using fake testimonials, and is doing it in the most flagrant and irresponsible manner. For example, Zoran from Serbia is a Shutterstock actor. Incredible right? Who would believe Ava Trade, one of the most regulated Forex brokers in the online trading industry would do such a thing? But the fact remains, so take a good look at the images below and let them serve you REAL well the next time you wish to invest. Again, we would like to re-emphasize the fact that we do not believe Ava Trade is a SCAM broker (quite the opposite is true), but these kinds of lies can only damage their reputation which is already getting slammed in certain forums and review sites.

In this area we had screenshots of fake reviews. We took it down because we can’t afford to engage in legal battles with a multi-million dollar Forex monster. The image can be found in our Facebook group for reference.

Here’s a little fact which is based on our experience. The word “regulation” acts as a kind of magic wand, when if waved can cause people to open up their wallets and start investing like MAD because it makes them feel safe or protected. In reality, regulation serves as a kind of proverbial fig leaf to veil the true intentions of the broker. In the end, they want to make money and need you to invest. Some will put up money to get a license, and others prefer not to but it doesn’t mean they are liars or dishonest. In fact, some of the best brokers we worked with had NO license, and we never had any complaints about them (not even one). That is because the broker understood that in an age of transparency and instant access to information, their reputation was the most important. So, it was in their interest to payout promptly and not generate hardships. Oddly enough, because they were not regulated it was that much more important for these brokers to stay clean and keep their customers happy. They know that as long as there are no complaints, they can keep doing business, and these are exactly the kind of brokers we work with. Not big like Ava Trade where you get lost, or scam brokers like Bigoption. We hand pick our brokers and constantly check them after they are integrated into our systems. We know exactly how to deal with them if and when the situation arises.

Skepticism, A Grain of Salt Not A Bucket!
A grain of salt and proper research will save you a pretty penny, but too much skepticism will keep you where you are instead of where you want and should be. Sometimes changes and hyper-information can get you sidetracked and confused. It’s important to filter out the static and focus your efforts on simple and profitable apps which can produce consistent income.

I Like the App But Not The Broker!
Well, as mentioned previously all our apps have a broker lineup and all of them are constantly being tested, poked, and prodded in a way which removes any doubt of possible scam. Regulated does not necessarily play a factor in our filtering process, as we make sure to take proper precautions regardless of which broker we deal with. We trust NO broker as we have been previously burned so all our guarantees are backed in writing and we make sure to use only the right type of brokers. In fact, the brokers that burned us the most are regulated, since they understand their license keeps customers coming back and not necessarily the level of service they offer. The ones that provide good service, payout on time, and don’t bother their customers too much are the ONLY brokers we work with.

Signals, Forex EA’s, Crypto Robots
Our recommended systems have passed a rigorous screening process and we make sure to include the best possible brokers.

I “Got Scammed” By Ava Trade!
The more years a broker has been around, the more complaints they have. This is true for any business regardless of the industry or niche. Of course you will hear this chatter in forums, but we checked and the dates go way back so we understand that Ava Trade does a decent job of handing their customers complaints and address their issues.

Summary And Conclusions
In a nutshell not all regulated brokers are legit or honest, and contrarily there are more than a few unregulated brokers which run a clean operation and treat their customers like royalty. Now, this doesn’t mean that all the unregulated brokers are legit, but we are saying that they are not all scumbags (this is also very logical if you think about it). Don’t forget to check out our Facebook page and subscribe to our YouTube Channel.